On Wednesday, privately owned independent power development and generation company Endeavour Energy, supported by global private equity firm Denham Capital, announced that they have entered into a Joint Development Agreement with Independent Power Producer (IPP) Starenergie2073 to develop the Songon gas-to-power project near Abidjan, Côte d’Ivoire.
The West African gas-to-power project will have a total generation output of 375MW of combined cycle power generation which will be fuelled from a liquefied natural gas (LNG) import infrastructure and a floating storage regasification unit (FSRU) which was specially developed for the project.
Sean Long, CEO of Endeavor commented: “Côte d’Ivoire, like many other Sub-Saharan countries, is in need of energy to sustain and propel its rapidly growing economy.”
He added: “The development of Songon will add much needed generation capacity to the country’s IPP thermal fleet. In addition, its LNG importation infrastructure will allow Côte d’Ivoire to develop new power generation projects utilising an environmentally friendly energy source.”
Texas-based Endeavour said in a statement that they will own majority stake in the project and will provide construction management, fuel management and commercial management services.
According to Endeavour, local IPP Starenergie2073 has been a key driver in the progress of the project as well as securing core project agreements.
The Songon project is expected to reach financial close in December of 2015.
Project investment in Africa
Endeavour entered into an agreement with General Electric and Finagestion to develop the Ghana 1,000MW gas to power project last year.
The project includes the importation of LNG, a dedicated floating storage and regasification unit to receive, store and regas, while associated infrastructure will transport natural gas on-shore to GE turbines to generate power.
The first phase of the project is expected to begin delivering power by early 2017, initially producing 360MW in simple cycle mode. When completed in early 2018, it will generate more than 540MW in combined cycle mode.
The second and final phase of the project is expected to be implemented before 2019. The combined completion of all these phases will generate in excess of 1,100MW of power.
In other news this week, global private equity firm Denham has backed South African-based renewable IPP BioTherm Energy who announced it will sell a portion of ownership in its solar and wind power projects to international solar energy company SunEdison.